Beyond the roaring engines of the Indy 500 lies a new level of excitement – Indiana's booming entrepreneurial landscape. In the latest Global Startup Ecosystem Report from Startup Genome and GEN, Indiana shines as the 11th ranked emerging entrepreneurial ecosystem in the U.S. The state is also one of North America's top 15 destinations for affordable talent and top 30 for funding. Forbes named Indiana the second-best state in America to start a business, and CNBC’s Top States for Business report named it as the top state for infrastructure and second-best for cost of doing business.
Bigger, bolder, business success
As a destination for global investment and entrepreneurship, Indiana rises to the top. Indiana’s intentional approach to growth, long-term fiscal stability and lower costs have made it among the top-rated U.S. states to start a business. Both entrepreneur and investor dollars go further in an environment where the costs of doing business and living are affordable, and where Hoosier (a nickname for residents of Indiana) hospitality and innovative, state-led programming create conditions for all businesses to thrive.
Numbers speak for themselves. The Indiana Economic Development Corporation (IEDC), co-host for GEC 2025, is leaning into entrepreneurship in unprecedented ways. In 2023, the IEDC assisted a record 10,000 entrepreneurs and small businesses through various initiatives, investments and incentives. The IEDC launched a new $1 billion capital access initiative to provide credit and equity to local entrepreneurs; committed another $2 million to growing localized, no-cost support for small businesses; and celebrated the second edition of Entrepreneurship Indiana, an annual publication honoring the entrepreneurial journey and highlighting 100 Hoosier success stories.
The IEDC works to support entrepreneurs and small businesses through the Indiana Small Business Development Center (SBDC) and Indiana APEX. The Indiana SBDC provided no-cost support to more than 6,284 entrepreneurs and small businesses in 2023, helping secure over $96 million in funding and helping launch 446 new businesses. Additionally, Indiana APEX served 180 new clients, with a majority (62%) qualifying as women-, minority- or veteran-owned business enterprises, assisting businesses secure more than $335 million in federal government contracts.
Leaning into entrepreneurial ecosystem development, the IEDC launched ConnectIND, a digital portal available in 11 languages to increase support for entrepreneurs and founders. The first-of-its-kind statewide listing includes resources, programs and services for entrepreneurs and is designed to connect current and aspiring entrepreneurs to the right resources at the right time. Visitors are provided with curated connections to Indiana’s robust network of support organizations, mentors, accelerators, capital opportunities and more. Since launching in 2023, ConnectIND has registered 1,879 users and garnered 43,973 unique site visitors, over 144,300 site views and over 59,295 sessions.
The IEDC also expanded accelerator opportunities for early-stage startups including a record seven gBETA accelerators serving 40 entrepreneurs, continued support for Sports Tech HQ’s Techstars accelerator serving 13 companies, and sponsorship of HG Ventures HardTech Accelerator showcase.
Indiana welcomes ideas and businesses from across the globe. From start-up tech companies to multi-generation family businesses, you’ll discover a best-in-class entrepreneurial ecosystem in the heart of the U.S. Midwest. With high levels of local connectedness and dedicated support for entrepreneurship and innovation at all phases and industries, the stage is set for an inclusive, collaborative and solution-focused gathering of the world’s ecosystem at the 2025 Global Entrepreneurship Congress.
Learn more about Indiana's entrepreneurship ecosystem in the Global Startup Ecosystem Report.